Quote of the Day

Bloomberg’s Benjamin Dow, in his blog post this morning, speaks to our message in today’s video commentary:

“(Free cash flow yield) in the U.S., the big board is at 4.2% versus a whopping 9.9% in 2008 — that materially lower cash flow partly explains the phenomenon of SPX companies borrowing to buy back shares instead of investing in operations that will lead to dividend growth.”


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